"[All the fun] goes down in this house," she said. "When you go out, you get in trouble. People take the wrong camera phone angles and then the media twists the story. You get filmed again then you wind up being a prisoner in your house, because you're afraid to go out because you'll get in trouble."

In 1999, Tara described what could happen on one of those nightly outings that could get a celebrity in trouble.

"Sometimes you just go out at night and you drink a little more than you think you can drink and you think you're fine and then you realize the next morning that you blacked out," she said.

In addition to her infamous partying days, Tara also suffered a much-talked-about wardrobe malfunction in 2004. Now older and wiser, she offered some advice to her younger self.

Steven Tyler and Tara Reid playing blackjack at the Hard Rock Hotel (Photo by L. Cohen/WireImage)

Tara Reid during Tell No One: 1800 Hosts Hollywood's Hottest Talent At Exclusive Party - Arrivals at Chateau Marmont in West Hollywood, California, United States. (Photo by SGranitz/WireImage)

Tara Reid at the Sean 'P Diddy' Combs celebrates his 35th birthday at Cipriani Wall Street in New York, New York. (Photo by Sylvain Gaboury/FilmMagic)

Tara Reid (Photo by Jeffrey Mayer/WireImage)

Tara Reid (Photo by Barry King/WireImage)

Keith David, Tara Reid and Markus Redmond during 2007 Sundance Film Festival - 'If I Had Known I Was a Genius' Premiere at Library Center Theatre in Park City, Utah, United States. (Photo by Dan Gorder/FilmMagic)

OAKLAND, CA - JANUARY 14: Tara Reid is seen in the stands during an NBA game between the Miami Heat and Golden State Warriors at ORACLE Arena on January 14, 2015 in Oakland, California. (Photo by Thearon W. Henderson/Getty Images)

NEW YORK, NY - OCTOBER 13: Actress Tara Reid visits SiriusXM Studios on October 13, 2014 in New York City. (Photo by Andrew Toth/Getty Images)

NEW YORK, NY - OCTOBER 13: Actress Tara Reid visits Sway in the Morning at SiriusXM Studios on October 13, 2014 in New York City. (Photo by Andrew Toth/Getty Images)

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"There's so much I've done in my life," Tara said. "Everything is timing in life, but if you don't learn from your mistakes you don't really learn."

Tara's career is now on an upswing thanks to Syfy's popular Sharknado movies. The sequel, Sharknado 2: The Second One, drew in an impressive 3.9 million viewers in July 2014, making it Syfy's most-watched original movie ever. These numbers were up 180 percent versus the 2013 premiere of the original Sharknado, which scored an audience of 1.4 million viewers.

"Sharknado turned out to be -- in my opinion -- bigger than even American Pie," Tara said.